Can I get a loan against my 2021 tax refund?
Editor’s Note: While our Refund Advance offer ended on February 28, 2022, you can still read about the benefits of working with our tax pros to get the most from your taxes with H&R Block.
You could wait patiently for your tax refund during tax season. It’s part of the process, right? And, while you are waiting, life is happening. There are bills due, unexpected expenses to pay, or maybe your finances have been upended in the last few months. When the unpredicted comes up, you may be wondering, “is there a way to get access to money quickly?”
We understand the impact any delay on your refund may have on your finances, and that’s why we offer Refund AdvanceDisclaimer number109. Scroll to bottom of page.. With this interest-free loan on your tax refund through H&R Block, you can apply and could get up to $3,500 within minutes of filing. There’s even a way you can apply for this tax refund loan using digital drop off – we’ll tell you how.
But first, what is a tax advance loan, exactly? A refund advance is a great way to get money quickly and not have to worry about the time it takes the IRS to issue your refund. While the money is not your actual refund, this type of loan is repaid from your refund.
Tax advance loan fact vs. fiction
Does a loan of up to $3,500 against your tax refund sound too good to be true? And, seriously, who offers such a generous tax anticipation loan? Take a look as we uncover the facts behind the Refund Advance loan offered in H&R Block tax offices. Spoiler alert — it’s the real deal.
Fiction – It takes a long time to get approved and receive a tax advance loan.
Fact – If approved, you can receive your Refund Advance loan proceeds within minutes after you file. You’ll also apply for and leave our office with an H&R Block Emerald Prepaid Mastercard®Disclaimer number110. Scroll to bottom of page.. and all applicants will be notified by text or email when the loan decision is made. At that point, you’ll know if you can get a loan against your 2021 tax refund.
Fiction – It’s probably only a limited number of people who get approved.
Fact – While not everyone is approved, the Refund Advance loan program at H&R Block has high approval rates. To be approved, you must have passed certain eligibility requirements (such as ID verification and a sufficient refund amount), and then the lender’s underwriting requirements.
Fiction – My credit score will be affected if I apply for a Refund Advance loan.
Fact – As part of the application process, MetaBank®, N.A. (the lender for Refund Advance) will review your credit report, but the review doesn’t impact your credit score. So, you can apply for a Refund Advance without worrying about any impact to your credit score.
Fiction – There’s a cost to apply for the tax advance loan.
Fact – There are no loan fees. Plus, the money you receive is yours at 0% interest. Really!
Fiction – It’s difficult to find someone who offers tax refund anticipation loans online or virtually.
Fact – You could get a refund anticipation loan remotely with a Refund Advance. Instead of working with one of our tax pros in an office, you can use our Digital Drop-Off service, work with your tax pro from home and apply for your tax refund loan virtually.
Refund Advance and much more at H&R Block
If you are still wondering “who offers refund advance loans?”, visit one of our tax offices for more information. Or, if you’d prefer to stay at home, you can work with your tax pro using our Digital Drop-Off service.
Our tax pros understand how important it can be to get access to money quickly. Plus, when you choose us to file your return, you can trust you’ll always get your maximum refund — guaranteed. Disclaimer number84. Scroll to bottom of page.
Find more information about how to apply for a Refund Advance tax advance loan and how to schedule an appointment in a participating office starting January 4, 2022.
Note: this offer ends February 28, 2022.
Tax Identity Shield is a way to help H&R Block clients protect themselves from identity theft. Learn more about Tax Identity Shield at H&R Block.
It is important for teenagers to learn financial literacy. That's why we offer the H&R Block Budget Challenge to high school students - learn more here.
H&R Block is giving away millions of dollars to clients who have filed their taxes with them with "H&R Block 1000 Win". Find out how to win!
Teachers have been using H&R Block's financial education program to help teens learn about money management. Find out more at H&R Block.